Abuja: The EFCC is investigating the MD of Paramount Energy over an alleged N72.3m fraud.
EFCC Spokesperson Dele Oyewale said in a statement on Wednesday in Abuja that investigators questioned the suspect over alleged obtaining by false pretence and stealing to the tune of N72.3 million.
A petitioner alleged that between April 11, 2022, and May 24, 2022, he sent the said sum to the suspect for the supply of petroleum products to some of his branches.
The said money was paid in six tranches between April 11, 2022 and May 24, 2022.
“After he collected the money, he kept promising to supply the products as agreed, but failed to do so, which then prompted preliminary investigations.
”We discovered that Chinazumah Ajah and his company do not have the capacity to supply the products, and he deliberately defrauded us of our business capital,” the petitioner said.
Oyewale explained that investigations revealed that the suspect used the account of his company, Paramount Energy Ltd., to receive the said sum, after which he transferred the funds into his personal account for personal use.
He said the suspect would be charged once the investigation concluded.
